Gov’t divests from 5 transport firms

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Asean Affairs October 4, 2016

Gov’t divests from 5 transport firms

The Ministry of Transport (MoT) is pushing forward with the restructuring of State-owned enterprises (SOEs), having divested VN?2 trillion (US$89.7 million) from five corporations and companies since the beginning of this year.

According to Deputy Minister Nguy?n H?ng Tr??ng, all State capital was withdrawn from the Civil Engineering Construction Corporation No 6 (Cienco 6), the Transport Engineering Design Inc (Tedi), the Waterway Transport Corporation, and Vi?t Nam Motors Industry Corporation (Vinamotor), while 23.18 per cent of the charter capital was withdrawn from the Civil Engineering Construction Corporation No 5 (Cienco 5).

The divested capital was then put into the Business Arrangement and Development Support Fund of the State Capital Investment Corporation (SCIC).

The MoT also transferred the management of State capital in the Th?ng Long Construction Corporation to SCIC and submitted to the Prime Minister for consideration the transfer of State capital management in three corporations, Cienco 5, Cienco 8, the Waterway Construction, and nine companies.

Deputy Minister Tr??ng said the ministry has approved the list of strategic investors for the Airports Corporation of Vi?t Nam and Vietnam Airlines, while continuing to work on the restructuring of Vinalines, VEC and C?u Long corporations.

In the fourth quarter, he said, the MoT will accelerate the equitisation of public service delivery units that was given the green light by the PM.

The ministry will report to the PM on the progress of the restructuring of the Vi?t Nam Ship Building Industry Corporation (SBIC) and create the restructuring plan for Vinalines in the 2016-2020 period.

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ASEAN ANALYSIS

This year in Thailand-what next?

AseanAffairs 04 January 2011
By David Swartzentruber

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

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